[20NL] High variance play, is this ok?

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[20NL] High variance play, is this ok?

Blinds: $0.10/$0.20 (5 Players) CO: $22.44
BN: $40.04 (Hero)
SB: $20.00
BB: $0.00
UTG: $32.15
Hi guys, villain is unknown.
Preflop ($0.30) Hero is BN with 7 8
CO raises to $0.60, Hero raises to $1.80, 2 folds, CO calls $1.20
Flop ($3.90) K A 8
CO checks, Hero bets $1.70, CO raises to $3.40, Hero raises to $38.24 and is all in, CO calls $17.24 and is all in
So at this point his minraise is nonsense, he reps 88 that I block or A8s, which are 2 combos. Sometimes AK... But at this point pretty clear he's a fish, so is it ok to take the more high variance line and just shove here?

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